Cayman Islands updates regulatory status of single family offices

News Team, 03/07/2020

The Cayman Islands Ministry of Financial Services & Home Affairs has issued an industry update to advise that single family offices (SFOs) conducting securities investment business will now be brought within the scope of regulation pursuant to the Securities Investment Business Law (SIBL).

This change follows three rounds of industry consultation, discussions with the Cayman Islands Monetary Authority (CIMA) and consideration of the Financial Action Task Force (FATF).

Currently a SFO would fall within Schedule 2A of SIBL as a “non-re...

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